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AI And IA: A Marriage of Sorts

Artificial intelligence. The phrase has received a bad rap over the years. It conjures up images of uncertainty and discomfort for readers, encouraging them to ask the question, “What does artificial intelligence mean for me?”, “Am I going to lose my job?” Let us delve a bit deeper into the phrase.

18 Sep 2023 Read more
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Diesel Refunds for Foodstuff Manufacturers

National treasury proposed a diesel refund for manufacturers of foodstuffs during the 2023 Budget speech, with effect from 01 April 2023 until 31 March 2025.

18 Sep 2023 Read more
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Rationalisations of Fraud Perpetrators (Part 4 in the 4 Part Series)

In Part 3 of the series, we introduced and evaluated some of the possible opportunities relating to fraudulent behaviour. We now conclude this series with a brief exploration of fraud perpetrators’ rationalisations after the crime has been committed, or during the act.

18 Sep 2023 Read more
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Embracing the Future: Modernisation of VAT in South Africa

Just as the digital revolution has transformed how we communicate, shop, and even bank, the realm of taxation is not far behind. The South African Revenue Services (SARS) recently unveiled a discussion paper aiming to revitalise and modernise our Value-Added Tax (VAT) system, offering both challenges and opportunities for all involved parties. This article provides a summary of the main points from the discussion paper.

18 Sep 2023 Read more
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AI and IA: A Marriage of Sorts

Artificial intelligence. The phrase has gotten a bad rap over the years. It conjures up images of uncertainty and discomfort for readers, encouraging them to ask the question, “What does artificial intelligence mean for me?”, “Am I going to lose my job?” Let us delve a bit deeper into the phrase.

28 Aug 2023 Read more
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CIDB Grading Levels and Thresholds – Getting the Basics Right

Since construction is an important factor in the social and economic development of South Africa, the Construction Industry Development Board (CIDB) was established via The Construction Industry Development Board Act 38 of 2000, to develop and regulate this industry to ensure optimal growth at globally competitive standards. The CIDB is a national public entity as listed in schedule 3A of the Public Finance Management Act (PFMA), with the focus of implementing an integrated strategy for the reconstruction, growth, and development of the construction industry in South Africa, and to provide for all matters in relation thereto.

24 Jul 2023 Read more
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Directors – To Remove or Resign

The Companies Act 71 of 2008 (the “Act”) imposes a fiduciary duty on all directors of a company. Directors have a duty to act in good faith, exercise reasonable care, skill and diligence and act in the best interests of the company. The fiduciary duties of a director may be relinquished if they choose to resign, or if they are removed from the board.

24 Jul 2023 Read more
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Important Changes Affecting Trusts and Public Benefit Organisations (PBO)

On 30 June 2023 Public Notice 3631 in Government Gazette 48867 was released (Notice - request to register all Trusts​) which specifies which third-party data providers are obliged to report taxpayer information to the South African Revenue Service (SARS). The revised list now includes trusts and public benefit organisations (PBOs) but excludes solar panel installers.

24 Jul 2023 Read more
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Understanding Your Obligations Under Section 83(4) PAIA Reporting Requirements for the Upcoming Deadline on 30 June 2023

As part of our commitment to keeping you informed and compliant with evolving legislation, we want to draw your attention specifically to the upcoming deadline regarding the Promotion of Access to Information Act 2 of 2000 (PAIA), specifically Section 83(4).   Section 83(4) of PAIA requires private bodies to submit an annual report to the National Assembly, detailing the number of requests for access to records received and granted in the previous year. This requirement underscores your legal obligation to promote transparency and good corporate governance within your organisation.

12 Jun 2023 Read more
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Complying with Updated Legislation: Mandatory Disclosure of Beneficial Ownership for Companies and Trusts

On 24 May 2023, the Companies and Intellectual Property Commission ("CIPC") issued Guidance Notice 2 of 2023, following the promulgation of the General Laws Amendment Act, 2022 ("The Amendment Act"). The Amendment Act introduced significant changes to several pieces of legislation, including the Financial Intelligence Centre Act 38 of 2001 ("FICA"), the Companies Act 71 of 2008, the Companies Amendment Regulations of 2023 and the Trust Property Control Act 57 of 1988 ("Trust Act"). These amendments have been swiftly implemented due to South Africa's grey listing status and the recommendations issued by the Financial Action Task Force ("FATF").

8 Jun 2023 Read more
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